Zacks Investment Research upgraded shares of The Dixie Group Inc. (NASDAQ:DXYN) from a hold rating to a buy rating in a report issued on Tuesday morning. The firm currently has $5.25 price objective on the stock.
According to Zacks, “Dixie Group Inc. is a leading carpet and rug manufacturer and supplier to higher-end residential and commercial customers serviced by Masland Carpets and Fabrica International, to consumers through major retailers under the Bretlin, Globaltex and Alliance Mills brands and to the factory-built housing and recreational vehicle markets through Carriage Carpets. Dixie’s Candlewick Yarns serves specialty carpet yarn customers.(PR) “
Shares of The Dixie Group (NASDAQ:DXYN) opened at 4.33 on Tuesday. The Dixie Group has a 12 month low of $3.00 and a 12 month high of $9.27. The stock’s 50 day moving average price is $4.76 and its 200-day moving average price is $4.05. The firm’s market capitalization is $67.74 million.
The Dixie Group (NASDAQ:DXYN) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.18. The company had revenue of $105.32 million for the quarter, compared to the consensus estimate of $107.10 million. The Dixie Group had a negative return on equity of 1.76% and a negative net margin of 0.86%. The firm’s revenue was down 4.2% compared to the same quarter last year. During the same period last year, the business posted $0.03 earnings per share.
Large investors have recently modified their holdings of the stock. Royce & Associates LP increased its stake in shares of The Dixie Group by 0.6% in the first quarter. Royce & Associates LP now owns 1,521,707 shares of the company’s stock valued at $6,406,000 after buying an additional 9,818 shares in the last quarter. First Dallas Securities Inc. increased its stake in The Dixie Group by 93.2% in the second quarter. First Dallas Securities Inc. now owns 86,050 shares of the company’s stock worth $306,000 after buying an additional 41,500 shares during the period. FTB Advisors Inc. increased its stake in The Dixie Group by 16.0% in the second quarter. FTB Advisors Inc. now owns 31,000 shares of the company’s stock worth $111,000 after buying an additional 4,277 shares during the period. Emerald Acquisition Ltd. purchased a new stake in The Dixie Group during the second quarter worth $305,000. Finally, Boston Partners increased its stake in The Dixie Group by 0.8% in the second quarter. Boston Partners now owns 175,240 shares of the company’s stock worth $624,000 after buying an additional 1,420 shares during the period. 63.65% of the stock is currently owned by institutional investors.
The Dixie Group Company Profile
The Dixie Group, Inc is engaged in marketing, manufacturing and selling of carpet and rugs. The Company offers its products to various residential and commercial customers through its various sales forces and brands. The Company operates through the carpet and rug manufacturing segment. The Company also provides carpet and yarn related services to other manufacturers.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for The Dixie Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Dixie Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.